Duos Technologies Group, Inc. Provides Earnings Guidance for the Fourth Quarter Ended December 31, 2021; Provides Earnings Guidance for the Full Year 2022
January 28, 2022 at 08:56 am EST
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Duos Technologies Group, Inc. provided earnings guidance for the fourth quarter ended December 31, 2021. Based on preliminary, unaudited results, the company expects total revenue for the fourth quarter of 2021 to be $3.75 million, in line with the same year-ago period. The company also estimates that the company's fourth quarter net loss will be in the range of $250,00 to $295,000 compared with net loss of $426,000 for the fourth quarter in fiscal year 2020, an improvement of at least 31%.
For the full year 2022, the improvement in operating results is expected to continue in 2022 for the full year. At this time the company is issuing preliminary revenue guidance between $16.5 million and $18 million for fiscal year 2022, based on its current backlog, a more than doubling of revenues year over year.
Duos Technologies Group, Inc., through its wholly owned subsidiary, Duos Technologies, Inc., designs, develops, deploys, and operates intelligent vision-based technology solutions using machine vision and artificial intelligence (AI) to analyze fast moving freight, passenger and transit trains and trucks streamlining operations, improving safety, and reducing costs. The Company provides solutions that automate the mechanical and security inspection of fast-moving trains, trucks, and automobiles through a broad range of hardware, software, information technology and AI. Its Railcar Inspection Portal (RIP) provides both freight and transit railroad customers and select government agencies the ability to conduct fully remote railcar inspections of trains while they are moving at full speed. It has also developed the automated logistics information system (ALIS) which automates gatehouse operations where transport trucks enter and exit large logistics and intermodal facilities.
Duos Technologies Group, Inc. Provides Earnings Guidance for the Fourth Quarter Ended December 31, 2021; Provides Earnings Guidance for the Full Year 2022
DUOS TECHNOLOGIES GROUP, INC. 
